Kansas Real Estate Salesperson Exam — All Questions
19 questions
Under the Kansas Brokerage Relationships in Real Estate Transactions Act (BRRETA), a licensee is presumed to be which of the following unless a written agreement establishes an agency relationship?
- a.A seller's agent
- b.A buyer's agent
- c.A dual agent
- d.A transaction broker✓
Under Kansas BRRETA, a licensee is presumed to be a transaction broker unless the licensee and the consumer enter a written agreement creating a single-agency or other agency relationship. A transaction broker assists the parties without being an advocate or agent for either and owes limited statutory duties such as honesty, reasonable skill, and disclosure of adverse material facts.
How does a Kansas transaction broker differ from a single agent?
- a.A transaction broker owes full fiduciary loyalty to the buyer
- b.A transaction broker assists the parties without advocating for or representing either as an agent✓
- c.A transaction broker may not accept any compensation
- d.A transaction broker can only work with commercial property
A single agent under BRRETA represents one party with full agency duties including loyalty and confidentiality. A transaction broker, by contrast, helps the parties complete a transaction without being an advocate for either and without owing a duty of loyalty, though the transaction broker must still be honest, exercise reasonable skill and care, and disclose known adverse material facts.
Under Kansas BRRETA, when must a licensee provide the required brokerage relationships disclosure to a consumer?
- a.At the first substantial contact, before confidential information is disclosed✓
- b.Only after the closing is scheduled
- c.Only if the consumer is buying commercial property
- d.Within 60 days after the transaction ends
BRRETA requires the licensee to provide the brokerage relationships disclosure at the first substantial contact with a consumer, before the consumer shares confidential information. Early disclosure lets the consumer understand whether the licensee is acting as a transaction broker or as an agent for a party before negotiating information is revealed.
A Kansas broker shows a listed house to a buyer but has signed no agency agreement with anyone. Under BRRETA, what is the broker's status in that transaction?
- a.A transaction broker✓
- b.A subagent of the listing broker
- c.An implied agent of the buyer
- d.A dual agent by operation of law
Kansas abolished presumed common-law agency for licensees. A broker is considered a transaction broker unless an agency relationship is established under the act or the broker works as a subagent by accepting an offer of subagency. Cite: K.S.A. 58-30,103(c).
A Kansas brokerage wants one licensee to represent both the buyer and the seller in the same sale. Under BRRETA that arrangement is:
- a.allowed with the written consent of both clients
- b.allowed only for commercial property
- c.prohibited, because a licensee may not be a dual agent✓
- d.allowed if the supervising broker approves it
BRRETA replaced dual agency with designated agency and transaction brokerage. A licensee shall not act as a dual agent or in a dual capacity of agent and undisclosed principal in any transaction. Cite: K.S.A. 58-30,103(a).
By when must a Kansas broker have a signed written agency agreement with a buyer in order to represent that buyer as an agent?
- a.Before showing the buyer any property in person
- b.No later than the signing of an offer to purchase✓
- c.Within three business days after the offer is made
- d.Before the closing date set in the contract
For sellers and landlords the written agreement must come before licensed activity begins, but for a buyer or tenant the deadline is the signing of an offer to purchase or lease. Cite: K.S.A. 58-30,103(e).
BRRETA requires a written agency agreement with a seller before the broker does any licensed activity. Which seller is the recognized exception?
- a.A seller relocating out of state
- b.A seller who lists more than four units
- c.A bank selling foreclosed property
- d.An agency of the federal government✓
If the real estate offered for sale is owned by a federal agency, the broker may act after obtaining verbal authorization from that agency instead of a signed written agency agreement. Cite: K.S.A. 58-30,103(d)(2).
Which term must appear in every Kansas agency agreement and every written transaction brokerage agreement?
- a.A fixed date of expiration✓
- b.The seller's minimum acceptable price
- c.A cancellation penalty
- d.The name of the cooperating broker
The agreement must set out the terms of the relationship including a fixed date of expiration, any limit on the duty of confidentiality, and the terms of compensation. Cite: K.S.A. 58-30,103(f).
A Kansas seller wants the listing agreement to let the broker sign closing papers for her while she is overseas. What does BRRETA say?
- a.The clause is valid if it is notarized
- b.The clause is valid for sellers living outside Kansas
- c.The agreement may not contain such an authorization✓
- d.The clause is valid if the commission approves the form
An agency agreement or written transaction brokerage agreement shall not authorize the broker to sign or initial documents for the client or to act as the client's attorney-in-fact. Cite: K.S.A. 58-30,103(i).
A Kansas seller offers to let the broker keep everything above $200,000 as the fee. Under BRRETA this compensation term is:
- a.permitted if the seller initials it
- b.prohibited in any listing agreement✓
- c.permitted only on commercial property
- d.permitted if disclosed to the buyer
A Kansas agency or transaction brokerage agreement with a seller shall not provide that the broker's commission be based on the difference between the gross sales price and the net proceeds to the owner. Cite: K.S.A. 58-30,103(j).
In a Kansas in-house sale where the buyer and the seller each have a designated agent supervised by the same supervising broker, what role does that supervising broker take?
- a.Agent of the seller only
- b.Agent of whichever client signed first
- c.No role in the transaction
- d.Transaction broker✓
In any transaction involving designated agents the supervising broker acts as a transaction broker, and where both designated agents report to the same branch broker that branch broker takes the transaction broker role. Cite: K.S.A. 58-30,109(b)(4).
A Kansas firm with no designated agents will act as a transaction broker on an in-house deal. When must the transaction broker addendum be signed?
- a.Buyer before the offer, seller before the contract✓
- b.Both parties at the closing table
- c.Seller at listing and buyer at the time of closing
- d.Both parties within five days after the offer
The informed consent of both clients is evidenced by a transaction broker addendum to the agency agreements, signed by the buyer prior to writing the offer and by the seller prior to signing the contract. Cite: K.S.A. 58-30,109(a).
Which cooperation is a Kansas transaction broker forbidden to use?
- a.Paying compensation to a cooperating broker
- b.Listing properties that compete with each other
- c.Engaging subagents✓
- d.Showing other properties to the same buyer
A transaction broker may cooperate with other brokers and may pay them compensation, but shall not engage any subagents. Cite: K.S.A. 58-30,113(l).
A Kansas transaction broker on a single-family home learns the buyer would pay more than the offered price. Without consent of all parties, the transaction broker may:
- a.tell the seller, since the seller is the client
- b.not disclose it to anyone✓
- c.tell the seller if the offer is below list price
- d.tell the seller after the contract is signed
On residential property of four units or fewer, a transaction broker may not reveal without consent of all parties that a buyer would pay more, that a seller would take less, either party's motivation, or willingness to change financing terms. Cite: K.S.A. 58-30,113(f).
How does Kansas treat that same price information when a transaction broker is handling a 40-unit apartment building?
- a.It must still be kept confidential
- b.It may be disclosed only to the seller client
- c.It may be disclosed only after closing
- d.It may be disclosed unless the parties object✓
For commercial property or residential property of more than four units the statute flips the default: the transaction broker may disclose those items unless the parties prohibit it, though personal confidences that would disadvantage a party stay protected. Cite: K.S.A. 58-30,113(g).
In which Kansas transaction is a licensee NOT required to hand a prospect the "real estate brokerage relationships" brochure?
- a.Sale of a 12-unit apartment building✓
- b.Sale of a three-bedroom house
- c.Sale of a duplex to an investor
- d.Sale of a vacant residential lot
The brochure is not required when the licensee acts solely as a principal, when the contact is a business solicitation, on commercial property or residential property of more than four units, at a public auction, for ministerial acts only, or when the firm already delivered it. Cite: K.S.A. 58-30,110(a)(3).
Under BRRETA, where must the buyer's and seller's acknowledgment that they received the brokerage relationships brochure appear?
- a.In the brokerage firm's office file
- b.On a form filed with the commission
- c.In the contract for sale✓
- d.In the multiple listing service record
Acknowledgment of receipt of the brochure by the seller and buyer shall be included in any contract for sale, and the brokerage relationship of every licensee involved must be disclosed in that contract and in any lot reservation agreement. Cite: K.S.A. 58-30,110(a)(4) and (c).
A Kansas seller pays the fee earned by the broker who worked with the buyer. Under BRRETA, what does that payment establish?
- a.That the broker represented the seller
- b.Nothing about who the broker acts for✓
- c.That the broker was a transaction broker
- d.That the broker was a subagent of the seller
Compensation is presumed to come from the transaction, and payment of compensation by itself does not establish an agency between the payer and the broker or any affiliated licensee. Cite: K.S.A. 58-30,105(a) and (b).
A Kansas listing expires without a sale. Absent a written agreement to the contrary, which duties survive?
- a.Continuing to market the property
- b.Presenting late offers to the seller
- c.Advising the seller about future pricing
- d.Accounting for money and keeping confidences✓
After termination, expiration or closing the broker owes no further duties except to account for all money and property relating to the engagement and to keep confidential information confidential. Cite: K.S.A. 58-30,104(a)(2).